Author: Jill L.A. Sheward

A thorough understanding of the common security documents used in commercial lending is essential for both borrowers’ and lenders’ lawyers. By examining these documents from both perspectives, this paper highlights the key elements and potential areas of concern that each party should be aware of, ensuring that clients’ interests are protected throughout the process. The paper explores commitment letters, mortgages, general and specific security agreements, guarantees, assignments of rents and leases, assignments and pledges of deposit accounts, assignments and pledges of interest reserve accounts, assignment of purchase agreements, assignments of insurance policies, environmental indemnity agreements, solicitors’ opinion letters, directors’ resolutions, and officers’ certificates. It also includes a sample opinion letter and sample borrower resolutions.

These materials are part of a collection presented at LESA’s Navigating Commercial Real Estate Transactions: Closing with Confidence program in Edmonton on May 7, 2025.